24 July 2008 - German construction firm Hochtief has announced that its Russian branch has been awarded a 91 million euro contract by Ferrero Russia Zao, a subsidiary of Ferrero Middle and Eastern Europe GmbH, to build a confectionery facility near the city of Vladimir, about 180 kilometers east of Moscow.
The factory, which will also have an air-conditioned storage facility, is expected to be operational in late 2009.
"Russia is the most dynamic market for the company, even though Ferrero is successfully developing its business in other areas of the world. So when the issue was raised where to build the new plant, we chose Russia. Of course, we believe in the success and long term prospects of the Russian market. Construction of the Ferrero plant in Russia is part of our intention to become firmly established here for the long term", Arturo-Maria Cardelus, General Director of ZAO Ferrero Russia, was quoted as saying in a recent Russian business publication.
Ferrero entered Eastern Europe in the early 90s and launched its Russian operations in 1995. ZAO Ferrero Russia is the official and sole importer of Ferrero Group's products in Russia. Russia is the fourth largest market in terms of sales of Ferrero Group's products following Italy, Germany and France. Ferrero-operated factories are located in Italy, Germany, Poland, Belgium, Ireland, France, Canada, Puerto-Rico, Brazil, Ecuador, Argentina, Sri Lanka and Australia.